Loading...
Minutes 05-24-76ML~TES GF SPECIAL CITY COUNCIL MEETING OF THE CIHY OF BOYNTON BEACH, FLORIDA, HELD IN CITY HALL, MONDAY, N~Y $4, 1976 PRESENT Joe Framk Kohl, City Namager Mayor DeLomg at 2:00 ~.M. the from Mr. Koklread The First amd the attached amd ealted the meetimg to order Wasa Beach. 13, 1976, from Mayor DeLo~g stated majority ef the me~ a of heart. , the the City Everythi~gwas the l~am~ecause by the essary a~d there has ~eem the Mr. Kohl them read court necessary a~d Mr. he had ation was neceessry~ i~g this loa~ on the basis be helping lar program, lm should hold their prior est, the City would take chanses of Foltowiag the im a New York eived r have a~so · does have on to amother rem T~he Firs% B~]~ and Trust. The First Bamkand through a from this commumicatie~ He ~elieves the City that ne validation was c ent~uued that · his dise~- ~hey had ~reed ne v~id- c e~der- he does not.see any reasem they In the i~eres~, ef waiving · 7% ~nter- NIN~TES - SPECIAL CITY COUNCIL NERTIN~ BOYNTON BEACH, FLORIDA 976 Mrs. Jacksen referred to the letters she ha~ seen a~d they did not validation, She referred to validation that Reselutiom ~.NO. the Palm 3, 1976, from First- B~k and letter dated April , 1976, of- Publi~atiom dated Nay stated agai~ that mot going to Mayor the a~- that he he- 1969 and~ 6-1-76 o~e along h~ve taken. Thi~ t~ C~ty will Be kept. be peJ~ 3O O~ April 28, the ~ated April 30 this ,this dome in 'of this withthis off the it of -2- MINUTES - SPECIAL CITY COUNCIL MEETING BOYNTON BEACH, FLORIDA NAY a4, t 976 the ~ lut: He The Wow kept informed. Mayor mee~ if anyome had tried to prompt him or ne. Maye~ DeLong contlamed they took it that it was all to mee reqmirements. to rescia~ ] Atter- and bank M~s. PadEett then toeka reH ;on Councilman Strmad - Aye Vice Mayor Zack - Aye Mayor DeLo~g - Aye Motion carried 3-1. - Ne, because she does not thi~k they should take from the mnap~roDria~ed f~ads. In reply, Mayor DeLeag ex- ~l~ned hew the City h~ a Mayor a motion was in order to i~struct the Mr. George Wilde, President, First Bank a~d Trust of Beach, that the City has rejected the proposal they have smbmitt~d for the bank loan to the City. Mr, Str~zad so .moved, seconded by Mr. Zack. Under discusslom, Nfs. Jackson stated it was ~mfair to go outside the City since they wante~ ~ validated; they will have to have it validated for a~yone. Mrs. Padgett then took a roll call vote as follows: Councilwoman Jackso~ - No Commcllmam Strmad - Aye Vice M~vor Zack - Aye Mayor DeLong - Aye Notion carried 3-t, -3- MINU~ES - SPECIAL CITY COUNCIL MEETING BOYNTON BEACH, FLORIDA MAY 24, 1976 Mayor DeLe~g announced a motion was in order to instruct the City Nanager to resume negetiatiomm with the OityFiscal on the proposal submltted"~n Jam- 1~76, relative to funds for construction ef the headqmarters a~d the ~re~er~y eontig- L the intracoastal, Mr. Eack se Under discussi~, Nfs. Jack- sen =ontaeted a~d 'Mr. Keh~mform~d her Iack~en stated'2hat ~he know to N~. Hammering ,Jack~en Mrs. Jackson of meet- a~d Mr., K~ht-, sho~ed the e£ ~rs. Jackso~ referre~ every t~me mone] Zack ~ for t~e am follows$ te ~he re.catch and the and how it was he had that they woUld no2 hear attorneys. 1969. a roll call vote NINUTES - SPECIAL CITY COUNCIL MEETING BOYNTON BEACH, FLORIDA MAY 24, 1976 Comncilweman Jackson - Ne Ce~ncilmam Strmad - Yes Vice Mayer Zaek - Yes Mayer DeLeng - Yes Motion carried3-1. Mayer DeLong ammom, nced he womld like to recegmize the reqmest ef Mr. R. B~ Vasti~e te s~ te the Ce~eil. ~. R. B. ~ the C~mcil ~ state~ he w~ the ~ ef them. Ee ~e~ ~there was a ~s ~and the the of · estate 2:35 CITY OF BOYNTON BEAON, FLORIDA BY ATTEST: ~/Oity Clerk ~e Kr~se Recording Secretary (One Tape) -5- Co-nell Member April 13, 1976 Mr. Frank Kohl, City Manager City of Boynton Beach Boynton-Beach, Florida 33435 l{e: Proposed Loa~ Dear Mr. Ifohl: tn accordance with Mr. Robert.l~eed, City Attorney's request, eden ro grant a loan of $670 0nn :--- -- · vv .t, ~CCoraance ~th those terms ' and Condi~ons as set out previously in my letters to you dated February 3, February 12 and March 1 Z, 1976. The letter of March 12, 1976, established the Amount of the loan at $666, 261.00,in However· we have agreed to increase this ~itmenf~ with Mr. Reed's re ~ accordance [erms and conditions of ~e 1 quest, to ~670,000. oan are .set out as ~ollows: Interest r~te, 7 % per a~um. A Service charge in the a~ount of 3% of the princiDal amount of the loan ($18, ~00) from which the bank, s legal fees ~d other related items will Be' paid. Co~ateral-_the ~ssig~ent of ~e city April 13, 1976 Mr. Frank Kohl, City Manager Page Two · 4) Term of the loan--a period up to ten years, or any period within the ten years that would ]~e most convenient for the city. In addition, the bank would permit prepayments' of prin- cipal at any time without penalty. All other terms and conditions, as set forth, are in effect and we look forward to funding this commitm-en/at the convenience, of the . . GI~Ar :mgm cc: Mr. ~oberfi Reed Mr. Curtis Vfitters Sincerely yours, George I. Vfilde FIRST BANK AND TRUST :BO'~'gWO2Y' BEACH, FLOR][DA ~3435 May ZO, 1976 Mr. Frank Kohl, City Manager City of Boynton Beach Boynton Beach, Florida 33435 l~e: lOroposed Loan Dear Mr. Kohl: This is to confirm our recent conversation during which I informed you that First Bank and Trust will require that the pending loan between First Bank and Trust ar~ the City of Boynton ]Beach be validated through a court of competent jurisdiction. It is our feeling that these proceedings are necessary in order to fully p~otect the city and First Ba~ and Trust. We are aware of certain statutory interpretation $hat validation may not he required; howvever, vt° eliminate. . the possibility, of any post funding litigation we feel that alidatlon proceedings would offer the ultimate protection. Thank you for your consideratiqn in this matter. Gtlg:mgm Sincerely yours, George I. ~rilde Robert Reed, Esq. Ocean Plaza Bldg., Suite 15 Boynton Beach~ Fla. RESOEUTiON No. NOV' WHEREAS, the City mounczl of the C!ty o, Boyn~on Beach, Florida ~' ~~6b, adopt Resolution Xo. 66-SS providing for o~.d, on September 26, ~ ~ issuance of a }t~0, 000. 00 revenue certificates of said City to provide for construction of a certa~ store drainage facility w~thin the l~ts of sa~d municipality; and %VHEREAS. the ma~ interest rate %o be paid in codec%ion with issuance of said cert~eates was established a~ ~. 75% per annm. a~ pursuant 't¢ letter of comm~t~e~ to purchase subject certificates issued by ~he F~rst Ba~k and Trust of Bo~toa Beaeh, Florida; and %VHE~AS._ by Final Jud~ent rendered by the Circuii Court of the Fifteenth Judicial Circuit in and for Pa~ Beach County, Florida on November 7, 1966,the issuance of subject certificates in accordance w-ith the above ~d forego~g le~s was validated and co~i~ed; and WHEREAS, due to unavoidable delays 5n commencement of construe- t~on of said pro, eat, the above comm~ttme~t to purchase subject at ~ interest rate of ~. 75% has been w~thdraw~ and an amended issued at a current interest rate of 5.5% per ann~; and W~REAS, i% i~' deemed in the best interest of the City that subject ~ended c ommil~ day of November, A.D. 1969. CITY OF BOYNTON BEACH, FLORIDA Vice Miyor / ? Councilrn~ Counei~M ' City Clerk AND TI{USx September' Z6, ~i1969 Re: $160,000. O0'loan ,: ~-7 . '~en~ was issued in May, 1966, and ~ha~ th~ lo~ ~ransactio~ ~v~s no~: - :: -, . -: consummated by tke City and because of ~he considerable ti~e lapse the. . con~t~ent %vould b~ void and the Cit~ v<~$ no~ to ~fiilize::the funds. . . I, discussed the situation vzith our attorney, Mr.' David ~. Mci<ay,: and." -ac cordin~ly it is h~s opinion ~ ~o~ld be necessary.tha¢ validatlon'proceedin~s . : ~ :~voutd be require: ~hr6u~h th~' Circ:i~Court as it :elates ¢~ ~he interest . '?.', , iL:: ~nterest ra~e of ~. 7.5%, and ~'is Mr. Mc~ay's 'feelings' that inorder tO": ~ ... factor established through validation proceedings: Y. It is hoped that ~hese "-'-' ~- ~ "proceedings could be handled ina s~ma~y manner in order to eliminate. - :the possibility of ~ prolonged peripd'of ~e and at a minimum of e~ens¢~ i am s~re~th~ City A~torney Could ~nder you an:0pinio~ regard~g t~ ~itua~" ': . ;~ a' ne,v re solution ,vhereby all cigarette ~ reyenues hollected by the ~ . : State of ~lorida are ~o be assigned to the Ba~"as principal collateral ' ~ ' - for thSs lo&~. This'~ill Be necessary in ~ccorda~c~ WSgh 8ecgio~ ~10. Upon resolvin~ the ~%vo items ~enfioned abO~e we ~i~l be in a position ~o close ~hls transaction. If you have-~ further question, .please contact RESOLUTION NO. 76-BB Pages 1, 25 and 26 only attached to Minutes of Council Meeting of May 24, 1976 SEE RESOLUTION BOOK FOR COMPLETE RESOLUTION. A RESOLUTION PROViDiNG FOR THE ACQUISITION AND CONSTRUCTION OF A BUILDING TO BE USED AS A POLICE STATION IN THE CITY OF BOYNTON BEACH, FLORIDA; PROVIDING FOR THE iSSUANCE OF NOT EXCEEDING $300,000 POLICE BUILDING REVEL~E BONDS OF SUCH CITY TO' PAY THE COST OF SUCH PROJECT; PROVID!NG~FOR T~ RIGHTS OF THE HOLDERS OF SUCH BONDS; PROVIDING FOR THE PA~,~ENT THEt~0F; AND MAKING CERTAIN OTHER COVENANTS AND AGREEMENTS IN CONNECTION WITH THE ISSUANCE OF SUCH BONDS. BE tT RESOLVED BY THE CITY COUNCIL BOYNTON'BEACH, FLORIDA: SECTION 1. is adopted pursuant OF T~ CiTY OF AUTHORITY OF THIS RESOLUTION. This Resolution to Chapter 24398, Laws of Florida, Special Acts of 1947, as amended and supplemented, Chapter 210, Florida Statutes, and other applicable provisions of SECTION 2. DEFINITIONS. the following m~anings herein, unless the requires: A. "Issuer" shall Florida. The following terms Special Acts Florida 0 shall have text otherwise expressly mean the City of Boynton Beach, modification or amendment or ordinance made without or more in the lng; provided, of this Resolution or of any resolution amendatory hereof or supplemental hereto may be the consent in writing of the holders of two-thirds principal amount of the obligations then outstand- however, that no modification or amendment shall permit a change in the maturity of such obligations or a reduction in the Kate of interes~ thereon or in the amount of the principal obligation thereoj or affecting the promise of the issuer to pay the principal of and interest on the obligations as the same shall come due from the proceeds of the Cigarette Taxes or reduce percentage of the holders of the obligations required to consent ts any material modification or amendment hereof wi%hour the consent of the holder or holders of all such obligations. SECTION 18. SEVERABiLITY O~ I~ALiD PROViSiOATS. If any one conta or COn proh ib whatso or more of ~he covenants, agreements or provisions herein ned shall be held contrary to any express provision of law trary to the policy of express law, though not expressly ired, or agalns· ~ver be hel~ provisions she- 33 from ~zhe r~ '''~ © 0 - proceedings to validate the obligations in the manner provided by law. SECTION 21. thereof of the contained are, and repealed. REPEALING CLAUSE. Ail resolutions or parts issuer in conflict with the provisions herein to the extent of such conflict, hereby superseded SECTION 22. EFFECTIVE DATE. This Resolution shall take effect in the manner provided by law. ATTEST: PASSED A1ND ADOPTED this 17th day of August, A.D., 1971. CITY OF BOYNTON BEACH, FLORIDA Mayor JUDICIAL C]I~(_.U1 i OF I"i.OiliD_,'\, IN AND ]rOI{ PALM BIDACII COtJNTk' No. 71 -C-4364-S[ewar[ CITY OF BOYNTOX Bt'~'ACtI, ) FI.OI{IDA. a ,nunicipality iu the ) County or Palm Beach, State of 1,'loft da, Petitioner S-TATE OF FLORIt3--k, and the - Taxpayers. Property Owners and -Citizens of the City of Boynton Beach, including nonresider._ts ~wning property or subje..:t to taxation therein, et al, ) ) ) ) ) ) ) ) ) ) ) ) ) Respondents) ) CL1Y'Yr,!~ !CA't Ig STATE OF FLORIDA COUNTY OF PALM BEACH ' I, JOHN B. DUNKLE. do hereby certify that I am the duly elected, qualified and acting Clerk of the Circuit Court in and for }?aim Beach County, ' Florida. enterc J--in than fir. :Frank Kohl. City Manager RE: Resolution No. 76-Y Dear Frank: x ~/: ~ursuant to our telephone conversation this mot ' . · · re%~reneed l~eso[ tion ~ .......... nlng, I am aov~ed ~a% the a~ove- V~esd~, A~ri~-- ~F~ a~ a?opF? a~.~O speclaI City Council =eet~ held ' e':' - . .o. ~ccoramg~y, I hand you herewith i~ee c ' R ~e~p~ and Contra~+ r~- ~, ...... epees L:L":.. _ ~ ~ ~ and ~urcnase relative lhe Ci~'~ ~,,.~ pr~Per~y-6escribed ~ ~+:~ ~ . ~ _ . --~ ~ r~z~e oI Ine 'real ~a~.K~ ...... . ~ . ~t~ ~n ~ anu ~b~l A lo lhe aforesaid Resolu~ "' . 7',~ ~*~ ~cute~ Dy ihe sel/~ ~ ........ ~on, all of which co~tract on - e '¢ ....... ,-, ..... -. . y . xecute each copy of · ~ ..... p*uv~uea ~or n~s s~gnazure at ihe bottom of ~e first pa~e.' The ' B,{a~'s signature should be a~tes~ed %o by the City ~lerk who shou lh~,f~e provided id the left of ~e M~v~,~ ~:-. , .. . . [d af~lhe Cib~'s sea[ ~_ , -7-.~ ~ ~gna~ure, Insert the date of execution and id ~' so lh~ . upul~ co~ptere execution of the contracts, please return ~e same ~;~i:; ,~ ' t I might forward a fully executed copy id ~e sellers' nffn~o~r  " u~ me ~ztte to ~ne property.. :__. win '< of ' ~he~eI~am~ da~e f ....... - - : .... ae~ :hat wa haee ~en~:vel se .' -- ,. .... ~ whzch the reven - · · . : .. . : . quote..: .: ..,: be ~Zd ~-~ *~ - -_ _ue ceri~fmate authomzed by.the aforesaid R6~N~'*;-~ ~;~* ' ~ioa:6~ ~e'outs~:~- --, ----'~ ~ .... ~y.. z: zs zmpe~at~ve that a Nofice of , -- ..... _ ~ ante ~ue on the .... ~ P -',k 2~ /.. p u uate m a Zmanczat journal published in ...... - Y' ' x~hattan City ~a B.~. ......... ,, .~ . . - lhe Borou h of -. . ~ a..~ ~.~[u u~ ~ew zor~. '- m addition..fl~at Section permits ~}gcitY rede~ ~e bonds on any mferest a _ . ~e sale of the I976 revenue certificate :v~*U *~ ~: . ~ , , o~r zniencion ¥ ~li u~ i' lrsi ~a~K and 'l'rusl and close ~ ~;~ l es~ie transaction set for ' thai ~2 - - ~ m lhe attached contract. The- ' ' - ~ publication of lhe Ho~;~ -~ ~ .... . efore, ~i ~s ~mporiant <su~e~{ ~a* .... -~ ~* ~uemp~zon ~mmence on or before 5/1/76 I wmld )?~a .., ~ you check with Ken Kribs in connection wi~ lhe mechanics o}~is 5%,Ir. Frank Kohl, City Manager ~xpril 29, 1976 ~age 2 Figatly, I suggest that you notify Mr, Wilde of the adoption of Re.solution 76-Y and i~ suggested timetable set forth above. In lhe event you or any Council members ~_~sl~o{il~i'have any questions in connection with the timetable outlined above, p~ease do not ~es{~e to c6nta~t me. - Sincerely, - April 30, 1976 NEW YORK TIMES FinancialAdvertising' ' 229 West 43 Street New York, N.Y. 10036 Department Gentlemen: [ enclose copy for an advertisement to appear in the NE~q YOR~ TI~-~S Financial Section. Please make every effort to run this on Saturday, May 1, 1976 or, alternatively, on Monday~ May 3. Copy is to be followed for paragraphing and punctuation exactly as shown. Please arrange to have billing and proof of publication sent to: Joe De Long Mayor City of Boynton Florida 33435 Beach Sincerely, Annette p. Tinker/kb E0~D$ ?F- THE. 229 WEST 43 STREET NEW YORK. N.Y. ~0036 CERTIFICATION OF PUBLICATION May 3, 19_ 76 I, E'heresa Dowlincjr ,inmycapacltyasaPrinc{palClerk of the Publisher of ~lle ;~e~ ]~ork i~me~ a daily newspaper of general circulation printed and published in the City, County and State of New York. hereby certify that the advertisement annexed hereto was published in the editions of ~lle ~el~ ~srk~ime~ on the ~ottowlng date or dates. to wit on